03-31-2014, 03:11 PM | #1 |
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Was this lease deal good?
Hey guys, just leased a new 2014 328xi, which is my first BMW ever . Finance guy said I "really hit them hard." Was he just acting or did I get a good deal? Please rate it thanks!
2014 328xi $39,300.00 Mineral White/Black interior $550.00 Driver Assistance Package $950.00 Lighting Package $900.00 Premium Package $3,100.00 Technolgy Package $3,150.00 Heated Front Seats $500.00 Black Kidney Grilles $173.00 Destination and Handling $925.00 MSRP $49,548.00 Invoice 45k? Not sure Rebate $2,000.00 Selling Price $43,999.00 Fees (all rolled into monthly payments) Doc fee $499.00 Sales tax VA (4.2%) $1,868.92 Acquisition fee $725.00 Title/License $103.50 Online System $10.00 Selling price plus fees $47,205 Recent Grad discount $999.99 Adjusted Cap. Cost $46,205.43 Residual Value 59% $29,233.32 Depreciation amount $16,972.11 Total Rent Charge $2,200.05 (rolled into monthly) Total of base monthly payments $19,172.16 Lease Term 36 months 15k/yr Monthly Payments (fees rolled into) $532.56 7 MSD total $3,850.00 Money factor 0.00081 Drive off $4,382.56 |
04-08-2014, 08:04 PM | #2 |
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Please? Could anyone please rate this deal?
Sure I know the deed has already been done so it wouldn't matter if it was a bad deal or not. But as it was my first time ever leasing a car I'd like to evaluate how I did at the dealership. |
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04-08-2014, 09:12 PM | #3 | |
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I have been seeing payments of 335i's in the $530+ a month range... so not sure how good a deal you got.. I think the biggest difference here is the residual I suppose.
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04-08-2014, 09:59 PM | #4 | |
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Since this is my everyday driver I needed the 15k. Heck, I might even drive more than 15k/yr, but I'll get a better estimate as each month passes. So are you saying my total cost of this lease should be somewhere around $15,480 instead of $19,172.16 for a car with an MSRP close to 50k? |
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04-08-2014, 10:06 PM | #5 | ||
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04-08-2014, 10:48 PM | #6 |
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hmmm so $30 + $50-$60 would make it $80-$90 more a month, which is close to your $100 difference. What was your selling price (without fees and taxes) or better yet your adjusted cap cost?
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04-09-2014, 02:41 PM | #7 | |
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04-09-2014, 04:24 PM | #9 |
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Thanks guys for your input.
I don't know if this is relevant, but I did the calculations to see how much it would have cost me if I bought the car to own rather than lease for 36 months. Here's what it would look like if I took a 60 month loan out (I wouldn't be able to pay it off in less time) with a 1.99% APR. MSRP: $49,548 Negotiated price: $43,999 Selling price with tax, title, tags, fees, grad bonus: $46,205.43 5 yr loan at 1.99% ARP with USAA 10% down: $4,620.54 Principle is now $41,584.89 Monthly is $728.71 for a $41,584.887 loan 36 months of $728.71 = $26,233.59 Cost of car at 36 months = $4,620.54 + $26,233.59 = $30,854.13 Amount of loan left to pay off = $17,131.61 or $16,431.32 Total interest paid: $1,780.21 or $1,808.62 Car’s predicted worth after 36 months = $29,233.32 (59% residual) $29,233.32 - $17,131.61 = $12,101.71 money returned when sold $29,233.32 - $16,431.32 = $12,802.00 money returned when sold Cost of car for 36 months $30,854.13 - $12,101.71 = $18,752.42 true cost Cost of car for 36 months $30,854.13 - $12,802.00 = $18,052.13 true cost Total cost of a 36 month lease = $19,172.16 (without $350 disposition fee) I lose at least $419.74 - $1,120.03 on leasing compared to owning assuming the residual value is on point at 36 months, AND I am able to sell it for at least that much. |
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